Allmed Medical Correlations
| 002950 Stock | 11.12 0.13 1.16% |
The current 90-days correlation between Allmed Medical Products and Shenzhen Jinxinnong Feed is 0.33 (i.e., Weak diversification). The correlation of Allmed Medical is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Allmed Medical Correlation With Market
Average diversification
The correlation between Allmed Medical Products and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allmed Medical Products and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Allmed Medical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Allmed Medical when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Allmed Medical - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Allmed Medical Products to buy it.
Moving together with Allmed Stock
| 0.71 | 601988 | Bank of China | PairCorr |
| 0.86 | 601398 | Industrial and Commercial | PairCorr |
| 0.77 | 601328 | Bank of Communications | PairCorr |
| 0.79 | 601288 | Agricultural Bank | PairCorr |
| 0.71 | 601939 | China Construction Bank | PairCorr |
| 0.88 | 601857 | PetroChina | PairCorr |
| 0.76 | 601318 | Ping An Insurance | PairCorr |
| 0.88 | 000572 | Haima Automobile | PairCorr |
| 0.88 | 603536 | Shandong Huifa Foodstuff | PairCorr |
| 0.82 | 601156 | Eastern Air Logistics | PairCorr |
| 0.94 | 605338 | Zhongyin Babi Food | PairCorr |
| 0.66 | 301286 | Sichuan Qiaoyuan Gas | PairCorr |
| 0.63 | 688109 | Hangzhou Pinming Software | PairCorr |
| 0.68 | 600691 | Yangmei Chemical | PairCorr |
| 0.9 | 002407 | Do Fluoride Chemicals | PairCorr |
| 0.79 | 000973 | FSPG Hi Tech | PairCorr |
| 0.8 | 000632 | Fujian Sanmu Group | PairCorr |
| 0.75 | 603155 | Xinyaqiang Silicon | PairCorr |
| 0.68 | 600756 | Inspur Software | PairCorr |
Related Correlations Analysis
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
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Risk-Adjusted Indicators
There is a big difference between Allmed Stock performing well and Allmed Medical Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Allmed Medical's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 002548 | 2.24 | 0.33 | 0.14 | 0.44 | 2.04 | 5.49 | 14.35 | |||
| 600519 | 0.63 | (0.10) | 0.00 | (0.29) | 0.00 | 1.57 | 4.26 | |||
| 603444 | 2.35 | (0.03) | 0.00 | (0.69) | 0.00 | 5.67 | 18.21 | |||
| 300750 | 2.04 | 0.34 | 0.11 | 0.97 | 2.03 | 6.70 | 15.95 | |||
| 600941 | 0.51 | (0.04) | 0.00 | 0.61 | 0.00 | 1.10 | 3.16 | |||
| 000661 | 1.59 | (0.38) | 0.00 | 2.16 | 0.00 | 3.53 | 13.24 | |||
| 601318 | 0.93 | 0.08 | 0.02 | 0.33 | 0.92 | 2.27 | 7.37 | |||
| 688169 | 1.88 | (0.49) | 0.00 | (0.84) | 0.00 | 3.50 | 18.83 | |||
| 002432 | 1.02 | 0.05 | (0.02) | 0.33 | 1.11 | 2.08 | 12.79 |
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Allmed Medical Corporate Executives
Elected by the shareholders, the Allmed Medical's board of directors comprises two types of representatives: Allmed Medical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Allmed. The board's role is to monitor Allmed Medical's management team and ensure that shareholders' interests are well served. Allmed Medical's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Allmed Medical's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Tiezhu Huang | VP CFO | Profile |